New Delhi : The State Bank of India recorded its highest non-performing asset (NPAs) of Rs 1.1 lakh crore in 2017-18, almost equal to what it had registered in the decade before, according to information available through RTI and the bank’s report.
The gross NPAs of the bank went up from Rs 1.12 lakh crore in 2016-17 to Rs 2.23 lakh crore in the last fiscal. This happened while the Bharatiya Janata Party (BJP)-led government completed nearly four years in office. The bank said that the grossN PAs of SBI till December 31, 2016, were Rs 1,123,43 crore. On December 31, 2017, the NPAs were Rs 1,99,141 crore — a net increase of Rs 86,798 crore.
The bank said rising NPA levels and fresh slippages across sectors could be attributed to i) inadequate pick-up in the global economy and negative spillovers from the financial markets; ii) less than adequate pick-up in domestic growth and declining exports; and iii) delay in realisation of receivables due to subdued demand, reduced market confidence and stress in steel, power and infrastructure projects.
Rs 1,325-cr NPAs to be auctioned
New Delhi: SBI will conduct auction of 12 non-performing accounts (NPAs) later this month to recover dues of over Rs 1,325 crore. The e-auction of these accounts will take place on June 25, it said. The NPA accounts that have been put under the hammer include Ankit Metal & Power (Rs 690.08 cr), Modern Steels (Rs 122.61 cr), Good Health Agrotech (Rs 109.14 cr), Amit Cottons (Rs 84.70 cr), and Ind-Swift (Rs 80.49 cr).